--- In AsburyPark@yahoogroups.com, "justifiedright"
<[EMAIL PROTECTED]> wrote:
>
> See your use of the word "mandatory" up there? That means you are
> proposing a law.
>
Tommy,
You are thinking like a lawyer and I am thinking like an
underwriter. I use the word mandatory because many mortgages
(discounted loans to first-time homebuyers mostly) already require
mandatory homebuyer education. The loan will not go to closing
without a certificate from a certified counseling agency. It is like
any other loan closing document and since they change with each loan
they are not laws.
Just to clarify things. People can feel free to sue their counseling
agency. Only trouble there is that then we won't have any counseling
agencies. We are already losing them due to lack of funding. Most
were funded primarily by lenders' foundations.
So it continues...
Jennifer
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